Bogdan to export 150 more buses to Russia by year end

Bogdan Motors (LUAZ UK) announced a contract to supply 150 buses to Russia by the year end, Interfax reported on Nov. 12, boosting the year’s Russia export total to 400 buses.

Roman Dmytrenko:  We estimate the new contract will bring Bogdan USD 7.5 mln revenue this year, which won’t offer the company relief as demand for Bogdan’s main product – passenger vehicles – continues to stagnate. On the flipside, this contract indicates that unlike its passenger vehicles, Bogdan’s buses remain competitive on the Russian market despite the recycling fee which Russia imposed on car imports in September.